As of Nov. 30, Tiger Global Management, founded by Chase Coleman, has reported to decreasing 5.9 percent of the hedge fund's stake in Chinese academic tutoring services provider, TAL Education Group (XRS), according to GuruFocus Real Time Picks.

This places Tiger Global's current holding at 20,900,000 shares.

The hedge fund, which is co-managed by Coleman and Feroz Dewan, first purchased TAL Education in the last quarter of 2010 in connection with the company’s initial public offering. By the first quarter of 2011, the fund reported owning 800,000 shares of TAL Education, purchased at $10.00 per American Depository Share, or the aggregate amount of $8 million, reported in Tiger Global’s latest 13D filing to the SEC.

With a market cap of $697.3 million, TAL Education is a company that offers K-12 comprehensive tutoring services through three class formats: small classes, personalized premium services and online courses. Its core curricula include subject coverage in math, English, Chinese, physics, chemistry and biology. It reports a 70 percent annual retention rate (en.xueersi.org) and has grown its network to 257 learning centers in 10 of China’s major cities.

Today, TAL Education’s stock is up almost 2 percent, trading at $8.58 per share. It is trading close to its 52-week low of $6.97.

In October, it announced its second fiscal quarter results. The company presented a 32.3 percent year-over-year increase in net revenue, a 65.1 percent increase in income from operations, and a 24.8 percent increase in total student enrollments for its tutoring services.

For the first six months of TAL Education’s fiscal year, the company reported similar positive results, particularly in net revenues, net income, non-GAAP net income and total student enrollments, despite the closing of several of its centers recently. It reported to having 270 learning centers in February; it now has 257.

TAL’s revenue has had a positive growth rate of 37.5 percent in the past 12 months. Ever since its IPO in 2010. (10-Year Financials)

TAL’s stock price has plunged about 40 percent, when it initially traded around $18. Year-to-date, TAL’s stock has gone down by 9.73 percent.

GuruFocus Real Time Picks alerts you of the stock purchases and sales that Gurus have made within the last two days. Follow your favorite Gurus closely with GuruFocus' Premium Membership! If you are not a Premium Member, we invite you for a 7-Day Free Trial.

About the author:

Dianne Tordillo

Dianne Tordillo is staff writer for GuruFocus.com. She reports on a variety of financial news, primarily dealing with investor portfolios and stock trades. Her articles also highlight insider trades, as well as the many useful features of GuruFocus.

Disclaimers: GuruFocus.com is not operated by a broker, a dealer, or a registered investment adviser. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The gurus may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute, investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC.
Stock quotes provided by InterActive Data. Fundamental company data provided by Morningstar, updated daily.